Federal Executive Council Greenlights CTICo to Propel Nigeria’s Creative and Tourism Sectors Toward $100 Billion Growth and 2 Million New Jobs

In a groundbreaking move set to redefine Nigeria’s cultural, tourism, and creative landscapes, the Federal Executive Council has approved the establishment of the Creative & Tourism Infrastructure Corporation (CTICo). The Honourable Minister of Arts, Culture, Tourism, and the Creative Economy, Hannatu Musa Musawa, Esq., revealed this transformative decision after the council meeting held yesterday at the State House.

CTICo, a Special Purpose Vehicle (SPV) operating under a Public-Private Partnership (PPP) model, is designed to address the pressing infrastructure needs of Nigeria’s dynamic creative and tourism sectors. This initiative is a key component of President Bola Ahmed Tinubu’s Renewed Hope Agenda, aligning with Presidential Priority 7 to drive economic diversification through innovation, arts, and tourism.

Forging Alliances for Infrastructure Development

To bring this vision to life, the Ministry of Arts, Culture, Tourism, and the Creative Economy has engaged with a broad spectrum of development partners and international organizations. These partnerships are focused on crafting innovative solutions for funding and building infrastructure that will catalyze the growth of the creative and tourism sectors across Nigeria.

Strategic Goals for National Prosperity

CTICo is poised to make a significant impact on Nigeria’s economy and society by: 

Injecting $100 billion into the national economy

Creating over 2 million jobs in creative and tourism industries

Attracting both local and international investments while showcasing Nigeria’s cultural richness on a global platform

Among its high-impact projects are:

Restoration of Obudu Resort and Yankari Game Reserve

Development of the Abuja Creative City

Installation of 5,000 new cinema screens nationwide

Construction of a Creative City at the Wole Soyinka Center in Lagos

Establishment of a Centre for African Arts

Deployment of a Digital Distribution Network

Modernization of the National Gallery

Expansion of the National Arena to a 100,000-seat capacity

These projects aim to close the infrastructure gap in the creative and tourism sectors, fostering new opportunities for artists, entrepreneurs, and investors, while positioning Nigeria as a global cultural powerhouse.

Governance Framework Ensuring Accountability

The Nigerian Government, through the Ministry of Finance Incorporated (MOFI), will hold a minority stake of 25-49% in CTICo. This ensures government oversight while allowing the corporation to function independently. CTICo will be structured as a limited liability company and led by a Board of Directors and management team with a strong track record in the creative, tourism, and financial sectors.

Drawing from the governance models of successful Public-Private Partnerships in Nigeria, CTICo’s structure will promote transparency, efficiency, and effective management of resources, ensuring that funds are properly allocated and utilized for maximum impact.

Empowering Communities and Showcasing Nigerian Culture Globally

Beyond economic growth, CTICo will deliver lasting social and cultural benefits by:

Creating employment and entrepreneurial opportunities for Nigerians

Boosting Nigeria’s cultural exports and global influence

Encouraging inclusive development and fostering social unity

Prioritizing environmentally sustainable projects

With a strong focus on infrastructure, talent development, and global cultural engagement, CTICo is set to be a transformative force in Nigeria’s creative and tourism industries, ushering in a new era of prosperity and international recognition.

Chindaya Ahmadu

Director of Press, Federal Ministry of Arts, Culture, Tourism, and the Creative Economy